BusM 361 Inventory Control Fall 10

BusM 361 Inventory Control Fall 10 - Click to edit Master...

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Unformatted text preview: Click to edit Master subtitle style BusM 361: Inventory Control When will all these calamities strike? We do not know the exact time, but it appears it may be in the not-too-distant future. Those who are prepared now have the continuing blessings of early obedience, and they are ready. Noah built his ark before the flood came, and he and his family survived. Those who waited to act until after the flood began were too late. Elder Ezra Taft Benson, Jan 1974 Ensign Nature of Inventory According to Tim Cook, Apple CEO (and many others): Inventory is fundamentally evil Inventory Control Examples In the mid 1980s instituted continuous replenishment VMI In 2003 instituted pay-on- scan program Consignment Inventory Control Examples Strategy of build-to-order manufacturing JIT Inventory (postponement) Customized items held by supplier due to warehousing constraints Reverse Consignment Establishing an Inventory Strategy B u y e r S u p p l i e r B u y e r S u p p l i e r B u y e r S u p p l i e r L o c a t i o n o f I n v e n t o r y M a n a g e m e n t o f I n v e n t o r y O w n e r s h i p o f I n v e n t o r y Management of Inventory Determine the appropriate model Independent or dependent demand?Independent or dependent demand?...
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This note was uploaded on 04/22/2011 for the course BUS M 361 taught by Professor Cynthiawallin during the Fall '10 term at BYU.

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BusM 361 Inventory Control Fall 10 - Click to edit Master...

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